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Monday, 9 January 2012

Can HMV Survive?

HMV are still holding on despite reporting a terrible fall in like for like sales over Christmas of 8.1%.  But with overall sales down 16.6%. New revamped and reformatted stores are doing well and this might be the only thing that is persuading their banks to keep the company going for now.  Alternatively, they may be waiting for the sale of their live music business.  Either way HMV in their interim statement said that;

"The economic environment and trading circumstances create material uncertainties which may cast doubt on the Group’s ability to continue as a going concern in the future, and these uncertainties continue."

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